When can my unborn child get their 1st CC?

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AlaskanTraveler

Level 2 Member
I'm getting ready to have my first child in August. I do a fair amount of churning between my wife and me. When can I get my child into the hobby? I know I can add our child as an authorized user on some of my cards, but when would I be able to open up a credit card in my child's name?
 
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Dandan

Level 2 Member
I am sorry, but there is something creepy and irresponsible to me in your question and I refuse to participate in this discussion. Btw. it is your hobby, and your wife's. Make sure you ask your kid if it is his hobby too before signing up for any CCs with his name on them. And he has not even been born yet, sheesh!
 
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volker

Level 2 Member
How can you sign up for a CC when you don't have a SSN of your future kid?

I also came across this article which lacks references and states "Credit card companies will not approve anyone under the age of 18 for a credit card". I really hope that the government enforces this rule. http://www.huffingtonpost.com/jeff-hindenach/credit-cards_b_2792622.html

Actually, as kid I would have been really ***** if my parents would have churned CC's in my name to get the once-in-my-life signup bonuses.

Dandan said:
I am sorry, but there is something creepy and irresponsible to me in your question and I refuse to participate in this discussion. Btw. it is your hobby, and your wife's. Make sure you ask your kid if it is his hobby too before signing up for any CCs with his name on them. And he has not even been born yet, sheesh!
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How do you see the Buxx accounts in this context?
 
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Matt

Matt

Administrator
Staff member
Dandan said:
Right, but those financial vehicles are used by responsible adults. As such these people should know what they are doing.
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Most people I know with Buxx cards are highly irresponsible and often get themselves into trouble at parties.

There's not really much difference in the unborn child vs unwitting teen.
 
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Voyaging Doc

Level 2 Member
I agree using your child as a churner hovers awfully close to a line I wouldn't cross. You could really ruin your child's chances for applying for financial products in the future, unless you really know what your'e doing and are gearing them for success. Though if it were a fly-by-night promo that you know would never come back in the future I might think twice about it. I have to thank my parents for setting me up as an authorized user on many cards in my childhood - they unknowingly launched a mostly successful churning side career
 
Craig

Craig

Level 2 Member
If you churn, you are generally responsible with your credit and payments...

Honestly I think it's an OK idea - as long as you are responsible about it, the kid should have a great credit score early in life, which may be beneficial.
 
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WavyCEO

Level 2 Member
Ethical and moral issues aside this sounds to me as a very slippery slope legally and might just get you in trouble for committing fraud down the road. The child being under can not legally enter into a contract with the credit card company and you have then assisted in commiting said fraud. I personally would never do it but to each their own.
 
MickiSue

MickiSue

Level 2 Member
Given that no one under the age of 18 can get a card in his/her own name, that should be the end of it: when your child turns 18, then he, himself, can apply for a credit card.

But really, plan for how you two will have time to get some much needed sleep, deal with projectile poop and a very small person who is exhausted but won't go to sleep for reason X Y or Z.

The freaking CC cards can wait. You are about to become a FAMILY. This is a big deal, and much, much bigger than any sign up bonus, even a million stinking UR points.
 
NickinSanDiego

NickinSanDiego

Level 2 Member
Dandan said:
I am sorry, but there is something creepy and irresponsible to me in your question and I refuse to participate in this discussion. Btw. it is your hobby, and your wife's. Make sure you ask your kid if it is his hobby too before signing up for any CCs with his name on them. And he has not even been born yet, sheesh!
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Thank you for participating in this discussion by announcing that you're not going to participate in this discussion ;)
 
Bury

Bury

Level 2 Member
Wow, churning for your kid already? Your child is going to expect a million points a year without lifting a finger!! If you don't want your second generation to be bunch of spoiled brats who take their miles for granted, teach them how to fish!!!
 
heavenlyjane

heavenlyjane

Level 2 Member
Your unborn child needs to be old enough to give consent to what you are proposing to do. You have to respect and honor that your own children may have different comfort levels about risk that you do.

Myy kids starting their own churning when they went off to college out of state. I told them that if they wanted to come home more often than once ayear, they needed to be earning their own points.

At one point, one daughter gave me permission to get a Target Redbird in her name and use it for my own benefit but onces that card closed down, she decided it made her too nervous to have someone else using her credit record for their own benefit.

Both of my kids (early 20s) are way less risky than me. But they also have zero CC debt and live within their means and have stellar credit scores. They are also too busy building careers to make travel a priority.
 
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churnman

Level 2 Member
My mom, who worked for a bank, made sure to get my credit history started early and teach responsibility. They did co-signed cards at that time so I could start a credit history. I was 16 at the time. They set me up with a co-signed checking, bank cc and store cc. She had already taught me accounting and balancing books as a preteen. My FICO has been in the 800s for years. Thanks Mom!
 
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AlaskanTraveler

Level 2 Member
Wow, I didn't really expect this to "churn" up so many emotional responses. I think the intent of my original post was misunderstood. I would not intentionally do anything to jeopardize the financial success of my child. @raenye thanks for the DOC link. Explains everything pretty well.

I wish my parents had helped me out by adding me as an authorized user at an early age giving a jump start to my length of credit history. This post brought up good points about teaching ones children financial responsibility. I was fortunate to never dig myself too big of a whole, but I got out of college with $10k in cc debt. Got my first out of college job and paid it off in 6 months.
 
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GettingReady

Level 2 Member
churnman said:
My mom, who worked for a bank, made sure to get my credit history started early and teach responsibility. They did co-signed cards at that time so I could start a credit history. I was 16 at the time. They set me up with a co-signed checking, bank cc and store cc. She had already taught me accounting and balancing books as a preteen. My FICO has been in the 800s for years. Thanks Mom!
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We did the same with our son. It kinda backfired though. When he was 21, and met his future wife, he told me her parents were grossly negligent. Why? Because they didn't teach her about finances.

Having said that, I'm not about to encourage him to go into this hobby. With his job, his finances come under the utmost scrutiny. Not worth it, even though it's painful, and he wouldn't have to pay AFs. So hard to keep my mouth shut....
 
JakeFromStateFarm

JakeFromStateFarm

Points Junkie
I'm fine with listing my pre-teen child as an AU to help build her credit profile while also getting me AU bonuses from Chase (without having to unnecessarily subject my wife to the 5/24 rule), but I cannot bring myself to open a credit card to churn in my daughter's name, no matter how appealing the bonus may seem.

Congrats on the upcoming birth. Enjoy this amazing time with your wife and newborn child.
 
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